Montreal: the executive committee approves the sale of the old theatre Snowdon for $1.6 million

The City of Montreal has finally accepted the offer from the company to number 9355-2610 Quebec inc. in the record of the sale of the old theatre Snowdon located on boulevard Décarie.

The offer of the company, a holding company owned by the first majority shareholder is Viviana Raichman, amounted to $ 1.6 million. According to what had been reported on Global News last may, two other bidders had responded to the call for tenders of the City launched in 2016. One of the bidders offered $ 135,000 for the building, while the other had wagered a little more than $1 million.

The choice of the City, therefore, arrested on the company of Ms. Raichman.

The City of Montreal was the owner since 2004 of the building to the art deco façade part of the landscape of the Côte-des-Neiges since the 1930s.

It was vacant since 2013, has been partially damaged on the inside by arson in 2016, and its restoration was considered too expensive for the City, where it’s sold.

Reached by QMI Agency on Saturday, the city councillor of the area, Marvin Rotrand, said that, for him, the sale of the property is a “good thing” for the district, noting that this will avoid having another building of interest barricaded for decades as the old historic Empress theatre on Sherbrooke street, in the neighborhood of Notre-Dame-de-Grace.

The company’s offering of Viviana Raichman, received by the City for months, came to an end on 31 January. It is, therefore, at the last minute, which is January 31) that she was officially accepted by the executive committee of the City. According to the councillor Rotrand, the time between the opening of tenders in march and the conclusion of the process, last week, is mainly explained by the many steps in the folder.

“The group, Raichman has submitted a bank guarantee and has agreed to the terms and conditions of the City, said Marvin Rotrand. The building envelope will be respected. The sign and the awning to the facade will be preserved.”

He added that the work should begin next fall and be completed for the fall of 2019, to welcome the first residents. “This is a project largely residential,” said city councillor.

The QMI Agency has not been able to get in touch with Ms. Raichman, Saturday.